Planet Fitness, Inc. Announces Secondary Offering of Class A Common Stock by Selling Stockholders
Sep 22, 2016, 04:30 ET
NEWINGTON, N.H., Sept. 22, 2016 /PRNewswire/ -- Planet Fitness, Inc. (NYSE: PLNT) ("Planet Fitness" or the "Company") today announced that certain of its existing stockholders (the "Selling Stockholders") intend to offer for sale 8 million shares of its Class A common stock pursuant to a registration statement on Form S-3 filed with the Securities and Exchange Commission.
The Selling Stockholders will receive all of the net proceeds from this offering. No shares are being sold by the Company.
J.P. Morgan will act as underwriter for the offering.
A registration statement on Form S-3 (including a prospectus) relating to the offering of the Company's Class A common stock was filed with the Securities and Exchange Commission ("SEC") on September 1, 2016 and became effective on September 9, 2016. Before you invest, you should read the prospectus in that registration statement and the documents incorporated by reference in that registration statement, as well as the prospectus supplement related to this offering. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, when available, copies of the prospectus supplement and accompanying prospectus related to the offering may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewater, NY 11717 or by calling (866) 803-9204.
The offering of these securities will be made only by means of a prospectus supplement and the accompanying prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Any offer to buy the securities may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to notice of its acceptance given after the effective date.
About Planet Fitness
Founded in 1992 in Dover, N.H., Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of June 30, 2016, Planet Fitness had more than 8.6 million members and more than 1,200 stores in 47 states, the District of Columbia, Puerto Rico, Canada and the Dominican Republic. The Company's mission is to enhance people's lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®. More than 90% of Planet Fitness stores are owned and operated by independent business men and women.
Forward-Looking Statements
This news release contains certain statements, expectations, beliefs and projections with respect to future events or future results ("forward-looking statements"). Forward-looking statements are neither historical facts nor assurances of future events or future results. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of the business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. Actual results may differ materially from those indicated in the forward-looking statements. Important factors that could cause actual results to differ materially from those indicated in the forward-looking statements include, among others, risks and uncertainties associated with the consummation of the proposed offering by the Selling Stockholders and general economic conditions and the other factors described, or incorporated by reference, in the prospectus supplement or accompanying prospectus. Neither the Company nor any of its affiliates or representatives undertake any obligation to provide additional information or to correct or update any information set forth in this release, whether as a result of new information, future developments or otherwise.
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SOURCE Planet Fitness